Italy is set to raise capital gains tax on Bitcoin from 26% to 42%! 🇮🇹 At a press conference on October 16, Deputy Finance Minister Maurizio Leo explained that the decision was made in response to the growing popularity of Bitcoin.

However, this has caused a strong reaction among investors and industry supporters. Many believe that such a tax increase could scare off investors and slow down innovation in the country.

Meanwhile, the UAE is taking a different route, exempting cryptocurrency transactions from VAT in an effort to attract more investors.